Prime-minister George Papandreou described as highly constructive and
positive his meeting with UN Sec. Gen. Ban Ki moon in NY, on Tuesday.
Issues discussed included Skopje name, developments in Cyprus and ME
issues as well as the G20 meeting. He will chair the Socialist
International Council in the afternoon.

Papandreou: "There Is no Secret Diplomacy on Skopje Issue"

On the Skopje name dispute, the Prime-minister underlined Athens
political willingness for a compound name including a geographical term
for all uses and categorically denied accusations of secret diplomacy.

"We remain firm on a compound name with a geographical term for all
uses. We are ready and take initiatives for the solution of the issue.
These initiatives are not secret, they are open initiatives within the
framework of the above terms".

On the Cyprus issue, Mr. Papandreou said that Greece fully backs the
efforts of Cypriot President Dimitris Hristofias within the framework
of UN resolutions and european status quo without outside interventions
and fabricated timetables.

On Greece's side attending G.Papandreou-Ban Ki moon meeting in NY were
alternate Foreign Minister Dimitris Droutsas, Greek permanent
representative at the UN and ambassador Anastasis Mitsialis and on UN
side were UN Sec. Gen. Aide responsible for political affairs Lyn Pasco
and several officials.

In his intervention during a teleconference at the International
Confederation of Trade Unions meeting held in Canada, Mr. Papandreou
asked for the imposition of taxes in bank transactions. GSEE president
Yiannis Panagopoulos attends the world meting.

Addressing the Socialist International Council, Mr. Papandreou said
Greece's financial crisis was the result of mismanagement,
over-expanded state and lack of transparency to the benefit of big
interests. But the country has already entered into the economic
purging orbit.

The federation of High School Teachers (OLME) has decided to suspend
mobilizations. Teachers will return tomorrow Wednesday to National
Exams evaluation centers to complete grading of tests. OLME president
Dimitris Peppes said the administration board (6 votes in favour 4
votes against) decided to put an end to teachers' abstention from
grading in order to ensure credibility of national exams and end the
anxiety of candidates and their parents. DAKE and PASKE unionists voted
against continuation of mobilization.

Two strong quakes struck the province of Papua, Indonesia early on
Wednesday. The quakes measuring 6.2 and 7.1 on the Richter scale hit a
few minutes apart from each other. The powerful quakes triggered a
tsunami warning . Police said two people were killed on Yapen island
while extensive material damage was reported.

French news agency correspondent said the quake lasted 40 seconds. He
added frightened residents ran out of the houses ready to flee to
higher ground. On Yapen island, 150 houses had been crushed and a
church collapsed.

The powerful tremors on the island of Biak caused scores of people to
leave their homes and head for higher ground The country sits on the
Pacific Ring of Fire, one of the world's most active areas for
earthquakes and volcanoes.

Three Turkish soldiers and a 17-year old girl were killed in
Konstantinopolis Halkali district early on Tuesday when a roadside bomb
hit a bus carrying passengers from a military housing complex.

The dead included the 17-year-old daughter of an officer said the
French News Agency. The number of injured come to 6, two of them
seriously injured according to NTV.

The explosion took place in the morning rush hour as a military shuttle
bus traveled between a residential compound and offices that include
the military police headquarters. The bomb, planted in advance, had
been detonated by a cell phone signal. The exact number of passengers
has not been confirmed, the French news agency says there were over 10
people in the bus. No organization has claimed responsibility so far

Recent data indicate reduction in state deficit and increase in
revenues in the first five months. The Finance Ministry believes state
revenues will increase after activation of new measures. From London
the chief of the Public Debt Management Agency said Greece would be
able next year to reorient its economy. In the meantime left wing
opposition parties and LAOS have expressed strong objections to an
article included in draft-bill authorizing the Finance Minister to sign
and ratify cooperation memoranda, borrowing agreements or contracts
with the European Commission, Eurogroup and ECB without briefing the
Parliament.

Stability Program on the Right Path

Greece's economy is observing the targets of stability program and is
well shielded against the financial crisis.

Data in the last 5 month course of the State Budget show drop of
deficit to 8.97 billion euros from 14.65 billion euros, or 38.75%
points lower compared against the annual target of 35.1%. This result
has been achieved both by reduction of expenditures and rise in
revenues without having yet seen results of additional measures
introduced in March and May, 2010.

The Finance Ministry believes that the additional measures to increase
revenues introduced in March and May will bear fruit in the next months
making feasible materialization of annual targets

From a conference in London, the chief of the Public Debt Management
Agency Petros Hristodoulou said:
"Greece will be able next year to focus on reforms that will lead to
fiscal purging and reorient its whole economy".

Alpha Bank chief Yiannis Kostopoulos, during a general assembly of the
bank's shareholders, appeared optimistic saying Greece will son exit
from recession despite the difficulties.

"Greece is on the right path and will come out stronger from the
financial crisis to prove that willingness brings results. Data
indicate recession in 2010 will not be as high as anticipated",
stressed Mr. Kostopoulos.

High pitched Dispute in the Parliament

Smaller opposition parties strongly reacted to an article included in
draft-bill authorizing the Finance Minister to sign and ratify
cooperation memoranda, borrowing agreements or contracts with the
European Commission, Eurogroup and ECB without briefing the
Parliament.

On the grounds that the article does not provide for the Finance
Minister's commitment to brief the Parliament and also has a
retroactive effect as of June, 1, 2010, the GCP and SYRIZA parties
spoke of "Parliamentary coup" while LAOS described the article weird,
requested its withdrawal underlining that it denies to give him a blank
authorization.

Finance Minister George Papakonstantinou, however, committed himself
after the signing of contracts to bring them to Parliament for debate
and ratification.